The plummeting price of crude oil, down from $80-or-so a barrel to $50-or-so in just six months, caught the attention of CBS' Anthony Mason yesterday. ABC and NBC chimed in, with markedly different takes. CNBC's Carl Quintanilla stated that retail gasoline prices have not fallen nearly as fast as the underlying crude: since November a barrel of crude is $7 cheaper while a gallon of gasoline costs only one penny less. ABC's Betsy Stark celebrated how the cuts in crude costs have a beneficial ripple effect across the economy as a whole. She cited the ratio used by economists that each $10 reduction in the cost of a barrel, accelerates the growth of the GDP by 0.5%. Stark accounted for the high price then and the low price now: she conceded that changes in supply and demand have some impact; yet the majority of the swing "is the work of speculators" in global financial markets.Andrew Tyndall 1/19/07 6:51:03 pm

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Each day, Andrew Tyndall blogs the three newscasts. He has been monitoring
television news for 20 years. He claims to be the only person on the planet
who has personally watched every single weekday network nightly newscast
since the summer of 1987. Other people go on vacation: he records them all
and logs the news he missed into his database when he returns.
three American broadcast television networks: ABC World News with
Charles Gibson, CBS Evening News with Katie Couric and NBC Nightly
News with Brian Williams.

All external links on this site (unless otherwise indicated) are to free
advertising-supported streaming video of network TV news.

Each day, Andrew Tyndall blogs the three newscasts. He has been monitoring
television news for 20 years. He claims to be the only person on the planet
who has personally watched every single weekday network nightly newscast
since the summer of 1987. Other people go on vacation: he records them all
and logs the news he missed into his database when he returns.